Author Topic: Addicks look for cash boost  (Read 1004 times)

Offline David

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Addicks look for cash boost
« on: August 23, 2007, 06:46:25 PM »
SPECULATION continues to mount over a possible takeover at Charlton, following the club's decision to hire financial advisers Seymour Pierce to help consider their "strategic options".

The London-based football specialists have already been involved in deals that saw the ownership of Chelsea, Aston Villa, West Ham and Manchester City change hands.

The Addicks announced in a statement last Thursday that "the board would like to clarify that it has hired Seymour Pierce Limited to consider a range of strategic options.

"These include further investment from existing shareholders and/or new investors, and the strategic review may or may not lead to an offer for the company."

Douglas Harmer, a Seymour Pierce director, added: "We've been hired by Charlton to explore a number of options which may or may not include a sale."

The SE7 club were relegated from the Premiership last season following a turbulent campaign.

It had previously been reported that a consortium of Middle Eastern businessmen were interested in investing in the club following the setback.

When Alan Curbishley ended his 15-year stay with the club at the end of the 2005/06 season, he was replaced by former Crystal Palace boss Iain Dowie.

But after Dowie's team found themselves rooted to the bottom of the league after winning just two of their first 15 matches, he was axed in favour of assistant coach Les Reed.

However, Reed's spell was equally ill-fated, winning just one match in his six-week tenure in The Valley hotseat and he was succeeded by current boss Alan Pardew.

But change has not be confined to on the field alone.

In October last year, the club cancelled its Aim listing and, following relegation in May, they were forced to make a number of cutbacks to balance the books including, most controversially, the disbanding of the successful ladies' set-up.

However, despite this, Charlton are regarded as an attractive business prospect in part due to their south London location and the way chairman Richard Murray has run the club in recent years.

Murray made his personal fortune with sports media firm Avesco and is believed to own around 25 per cent of the shares.